Withers Tsang
NewsInsights_2.jpg

Insights

Key News and Insights

 
 

The better informed our clients are, the easier it is to make great decisions together.

 
 

Covid-19 Government Support Package

Covid-19 lockdown resources

Below is a summary of the government support measures introduced to help New Zealanders during the Covid-19 lockdown announced on 17 August 2021.

Wage Subsidy Scheme

Available nationwide for those who expect a loss of 40% of revenue as a result of the alert level increase announced on 17 August.

Payment rates

This will be paid as a two-week lump sum at the following rates;

  • $600.00 for people working 20 hours or more per week (full-time equivalent employee)

  • $359.00 for people working less than 20 hours per week (part-time employee).

WSS is administered by Ministry of Social Development. Subsidy payment received must be paid out to employees.

Applications open at 9am on Friday 20 August for two weeks.

Apply for the WSS here.

Resurgence Support Scheme

Is a payment to assist businesses who incurs a loss of 30% revenue due to an Alert Level increase. If eligible, the business will receive the lesser of:

  • $1,500 plus $400 per full-time equivalent employee (FTE), up to a maximum of 50 FTEs, or

  • 4 times (4x) the actual revenue decline experienced by the applicant.

RSP must be used to help cover business expenses (which can include employee wages and other fixed costs) 

Receiving any other Government COVID-19 support does not affect eligibility for the RSP. 

RSP is administered by Inland Revenue. 

Applications open at 8am on Tuesday 24 August.

Apply for the RSP here.

Short-Term Absence Payment

The Short-Term Absence Payment (STAP) is available for businesses, including self-employed people, to help pay their workers who cannot work from home while they wait for a COVID-19 test result.

Click here for more information.

Leave Support Scheme 

The Leave Support Scheme (LSS) is available for employers, including self-employed people, to help pay their employees who need to self-isolate and can't work from home.

Click here for more information.

Upcoming Tax Payments

Inland Revenue has yet to make any formal announcements. Though based on past experiences, you need to contact Inland Revenue “as soon as practicable” if you or your business are unable to meet any upcoming tax payments because impacted by COVID.

Timely notification is critical to facilitate any late payment penalty remissions applications in the future.

Please call us on 09 376 8860 or your usual contact in the office. We can advise Inland Revenue on your behalf.

COVID-19, Small & Medium BusinessAnna HitchcockCovid-19 Wage Subsidy, Covid-19 Resurgence Wage Subsidy